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  • palosparkflash palosparkflash Dec 18, 2009 1:24 PM Flag

    Consolidating Again

    6.44 this morning was a triple top. With volume declining this is a classic bearish signal.

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    • "6.44 this morning was a triple top."

      The top is 7.98. This is an itermediate resistance area and shouldn't be considered a top.

      "With volume declining this is a classic bearish signal."

      Volume remains up on spikes down on pullbacks.That is a classic bullish volume flow.
      We opened today with a burst of accumulation and closed with another burst of buying.

      This stock broke out on a huge surge of volume.There hasn't been a single down day with volume that rivals the up moves.

      From bottom to top the stock found support at a Fib 50% retrace - 4.36 Dec 4th.That is a very typical retrace for a momentum stock.The key is the retrace occured on declining volume.
      Again - big volume push up - low volume retrace.
      That's a momentum stock getting ready for another breakout higher.

    • LOL, noob. Suggestion for you, do not touch the stock any more...

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